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BlackRock transfers over $702 million in Bitcoin and Ether to Coinbase Prime

On-chain tracking shows BlackRock moved 7,244 Bitcoin and roughly 63,600 Ether worth about $702.25 million to Coinbase Prime wallets over a one-hour span.

Blockchain tracking interface displaying transaction logs of BlackRock moving 7,244 BTC and two batches of ETH to Coinbase Prime hot wallets.
Image: @WhaleInsider

Asset management giant BlackRock transferred approximately $702.25 million in digital assets to Coinbase Prime, according to on-chain monitoring service Onchain Lens and reports from crypto outlets Whale Insider and BSCN. The deposits, which took place within roughly an hour, comprised 7,244 Bitcoin alongside tens of thousands of Ether.[1][2][3]

Transaction records shared by Onchain Lens show 7,244 BTC valued at approximately $558.62 million sent from a tracked BlackRock Coinbase Prime router address directly into a Coinbase Prime hot wallet. The Ether transfers were split into two transactions: one involving 61,530 ETH valued at $138.96 million and another carrying 2,068 ETH valued at $4.67 million, combining for 63,598 ETH worth $143.63 million.[1][2]

BSCN reported that blockchain surveillance detected the funds shifting from BlackRock ETF wallets to prime broker wallets at Coinbase. The purpose behind the substantial movements was not publicly stated.[2]

Key facts

  • BlackRock transferred about $702.25 million in cryptocurrency to Coinbase Prime within roughly an hour, according to Onchain Lens data.
  • The transactions included 7,244 BTC valued at approximately $558.62 million.
  • The transfers included 63,598 ETH (reported as roughly 63.6K ETH) worth about $143.63 million across two separate transactions.
  • On-chain logs show the funds moving from tracked BlackRock Coinbase Prime router addresses to Coinbase Prime hot wallets.
  • BSCN reported the digital assets originated from BlackRock's ETF wallets.

Sources · 3 sources

  1. WI

    Whale Insider@WhaleInsiderPost on X ·

    JUST IN: BlackRock transfers 7,244 $BTC ($558.62M) and 63.6K $ETH ($143.63M) to Coinbase Prime in the past hour, totalling $702.25M - Onchain Lens. https://t.co/HepOq36G7E

    Open source
  2. BS

    BSCN@BSCNewsPost on X ·

    BlackRock Just Moved Nearly $1B in Crypto, and Traders Are Watching Blockchain surveillance shows @BlackRock moved about $702.25 million in digital assets from its ETF wallets to @Coinbase Prime in the past hour. This includes 7,244 $BTC valued at $558.62 million and 63,598 $ETH valued at $143.63 million, sent to prime broker wallets.

    Open source
  3. KC

    Kalshi Crypto@Kalshi_CryptoPost on X ·

    JUST IN: BlackRock just deposited $700M worth of Bitcoin and Ethereum to Coinbase Prime

    Open source